Alsons chairman Tomas Alcantara says the project makes sense because by the time the plant is finished in three or four years’ time, oil prices are likely to have rebounded.
The Philippines’ Biofuel Act of 2006 mandates that all petrol sold within the country be at least 10% blended with ethanol by 2010.
Construction on the plant will star next year in Bukidnon, on the country’s second largest island of Mindanao.
